Release Date: 11-Aug-2014
“Australia Shale Gas Industry Analysis” Report Highlights:
The exploration of shale gas has just started in Australia and the future, according to the estimated reserves, looks bright. 437 Trillion Cubic Feet of recoverable reserves will not be developed in a jiffy and will take a long time before any commercial production can start. The Australian government is looking to develop these reserves rapidly and has already started giving away the blocks. A lot of domestic companies have bought licenses from the government to develop shale gas blocks and many more are joining the bandwagon. The foreign companies, with their technological expertise, are also developing these blocks in partnership with the domestic firms. There are many challenges to be faced along the road but none that can’t be overcome.
Australia is looking to build its shale gas reserves rapidly to gain a better foothold in the world shale gas market and also increase its natural gas exports. Its biggest market is the ever energy hungry Asia. As Asian nations are slowly moving towards becoming gas based economies, Australian gas is finding more buyers and better markets. This is the right time for Australia to tap the market and flood it with its own gas produce. China, a key exporter of Australian LNG has found its own shale reserves, probably the worlds largest and is fast developing it. This will reduce its dependence on imports from Australia. That is why, Australia should keep feeding its gas to China till it is able to produce its own gas and for that, Australia will have to move fast to develop and produce its shale gas.
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